Chevron CEO Sees Oil at $100

The transcript discusses the current market trends, highlighting the tightening supply and drawing inventories, suggesting a movement towards higher oil prices. It explores the potential impact of $100 per barrel oil prices on the US and global economies, noting that despite higher prices, the economy remains resilient. The discussion also covers long-term price strategies, emphasizing a stable approach despite market volatility influenced by events like the pandemic and geopolitical tensions.

What is the current trend in oil supply and demand according to the discussion?

• Supply is decreasing and inventories are stable.

• Supply is stable and inventories are increasing.

• Supply is tightening and inventories are drawing.

• Supply is increasing and inventories are stable.

How have the US and global economies responded to higher oil prices so far?

• They have seen a complete economic collapse.

• They have experienced significant recessions.

• They have been unable to tolerate the prices.

• They have remained relatively healthy.

What is the potential impact of $100 per barrel oil prices on the economy?

• It will cause a significant economic boom.

• It will be a drag but tolerable for the economy.

• It will have no effect on the economy.

• It will lead to immediate economic collapse.

What is the company's approach to adjusting their long-term price outlook?

• They change it only when prices drop significantly.

• They rarely change it and not in response to short-term trends.

• They adjust it annually regardless of market conditions.

• They frequently change it based on short-term trends.

What factors have contributed to the volatility of the oil market?

• Stable global politics and consistent demand.

• Technological advancements and policy changes.

• Decreasing global demand and stable supply.

• Pandemic, recovery, and war.